Cryptocurrency
5 Short Squeeze Candidates To Watch This Week: Singing Machine Company, Revlon And More
Published
4 weeks agoon
By
letizo News
Potential short squeeze plays gained steam in 2021, with new retail traders looking for the next huge move.
A short squeeze can occur when a heavily shorted stock rises in value instead of falling. Short sellers could be looking to close out their position and can face a loss if they have to buy back the shares they initially borrowed at a higher price.
A squeeze can occur when short sellers are forced into buying to cover their position, which can cause shares to move up higher on many occasions.
Fintel Data, which requires a subscription, provides a look at several of the top shorted stocks and how likely a short squeeze is to occur. Here’s a look at the top five short squeeze candidates for the week of July 11:
The Singing Machine Company: Karaoke audio equipment company The Singing Machine Company MICS tops the short squeeze leaderboard for the week. Shares of the company have risen from $5.50 to $8 in the last month. Fintel data shows 80.3% of the company’s float short and a cost to borrow of 106.5%, a combination that could suggest a short squeeze.
AeroClean Technologies: Air sanitization company AeroClean Technologies AERC is no stranger to the short squeeze leaderboard and comes in second place to start the week. Data shows 40.3% of the company’s float short and a cost to borrow of 320.9%, among the highest for the week. The company has been listed as a COVID-19 play with sanitization solutions for hospitals, offices and businesses against the virus.
Revlon: Cosmetics company Revlon Inc. REV continues to rank high on the short squeeze leaderboard. The company, which declared bankruptcy in June, has 53.9% of its float short and a cost to borrow of 894.0%, one of the highest figures on record. Shares of Revlon traded at under $5 prior to declaring bankruptcy and quickly fell to under $2. Shares have since rebounded and now trade higher than they did prior to the bankruptcy filing.
Applied UV: Infection control company Applied UV Inc. AUVI ranks fourth on the leaderboard with 36.9% of the float short and a cost to borrow of 181.2%. The company offers disinfectant systems for public use and hospitals.
Pennsylvania Real Estate Investment Trust: Mall owner and operator Pennsylvania Real Estate Investment Trust PEI ranks fifth on the leaderboard for the week. Data shows 393.2% of the float short, which may be elevated due to a reverse split. The cost to borrow on shares is 10.1%.
Related Link: 5 Short Squeeze Candidates To Watch This Week: Redbox And Chicken Soup For The Soul Both In Top Five
Other Stocks To Watch: Past the top five short squeeze candidates, two stocks made big jumps this week into the top 15 and could be short squeeze candidates in the future.
Outdoor cooking company Weber Inc. WEBR jumped 31 positions to 11th place. Data shows 58.2% of the float short and a cost to borrow of 60.3%.
Software company MicroStrategy Inc. MSTR jumped 44 positions to 12th place on the leaderboard. Data shows 37.1% of the float short and a cost to borrow of 10.6%. The company is a large holder of Bitcoin BTC/USD and a popular short candidate for those believing the price of the leading cryptocurrency will keep falling.

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Cryptocurrency
The Balance: Bitcoin bearish trend hasn’t stopped Americans from investing more in cryptocurrencies
Published
3 hours agoon
August 8, 2022By
letizo News
Analytical resource The Balance posted a report stating that 39% of U.S. investors have become more invested in cryptocurrencies, despite the bitcoin bearish trend.
According to the report’s author, these Americans are looking for new investment avenues to preserve their savings amid economic uncertainty.
Meanwhile, 41% of survey participants said they invested more in stocks, and about a third of them invested more in exchange-traded funds and exchange-traded index funds amid market uncertainty. Thirty-four percent of investors reported no change in their investment habits.
Slightly more than a quarter of investors surveyed admitted to investing less in assets. Nearly 20% of those surveyed admitted to investing less in cryptocurrencies this year. The report’s author argues that investing in cryptocurrency in times of uncertainty is more popular among young people.
Nearly half of millennials and Generation Z investors (age 41 and younger) said they prefer cryptocurrency – as opposed to just under a third of Generation X investors and older. The online survey was conducted from June 30 to July 9, 2022, and surveyed 1,200 Americans over the age of 18 who at least partially manage their finances.
However, according to Bank Of America, the number of active cryptocurrency users is down more than 50 percent from its peak last November.
Cryptocurrency
Cumberland: institutional investors give bitcoin growth predictions as high as $32,000 as early as 2022
Published
3 hours agoon
August 8, 2022By
letizo News
US market maker Cumberland conducted a survey of institutional investors and found that most respondents were making bitcoin growth predictions as early as this year.
It is worth emphasizing that most of those surveyed are convinced that the crypto market will continue its decline in the near future. Analysts stress that the value of the main coin in the world of cryptocurrencies can fall to 16000 dollars. After that, Bitcoin should quickly recover the lost positions. At the end of the year, the value of BTC could reach $32,000. Cumberland experts point out that investors remain bullish.
“Even with the current bearish trend, these results are not surprising. After all, those surveyed are trading cryptocurrencies, which means they believe in bitcoin. If they didn’t have this attitude toward BTC, they would continue to trade forex,” Cumberland analysts said.
Respondents do not expect any success in the stock market, despite the significant correlation between the stock and markets in recent months. According to institutional investors, the crypto market, at least in the near term, will depend significantly on the U.S. Federal Reserve’s decisions on prime rates and “other Fed moves.”
Cumberland analysts have previously said that the recovery of the market will be determined by the rate at which assets move from insolvent to solvent companies.
Cryptocurrency
Is dogecoin a good investment? Elon Musk: Dogecoin is much faster than the Bitcoin network
Published
3 hours agoon
August 8, 2022By
letizo News
Is dogecoin a good investment? The CEO of Tesla again spoke out in support of Dogecoin. He stressed that the “meme cryptocurrency” network can process significantly more transactions than the Bitcoin network.
During a conversation with a podcast host, the head of Tesla and SpaceX said that the popularization of DOGE is paying off. The coin is increasingly being used as a full-fledged means of payment. As you know, coins can be used to buy goods and pay for various services of several large companies. The most important advantage is the high speed of transactions. Usually it takes no more than a minute to process a transaction online.
“To be honest, I mostly support DOGE because this cryptocurrency has memes, dogs, the developers have a sense of humor, they don’t take the project too seriously. And with all that being said, it’s strange that though DOGE was invented just as a joke, the actual throughput of the Dogecoin network is much higher than Bitcoin blockchain,” said Tesla’s CEO.
Ilon Musk also reminded that Dogecoin’s inflation model allows it to issue 5 billion coins annually, while Bitcoin’s number is limited to 21 million. And this makes DOGE much more suitable for use as a payment currency.
Recall that Tesla sold most of its bitcoin holdings amid falling cryptocurrency markets.
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